The SFC of Hong Kong has applied for an interim order from the Court of First Instance to freeze assets intended for compensation to affected investors.
A joint operation by the Hong Kong Securities and Futures Commission (SFC) and the ICAC has resulted in the arrest of eight people.
The SFC issues restriction notices to 15 brokers to freeze client accounts linked to suspected social media ramp-and-dump scam.
The ramp-and-dump schemes drive up share prices of target stocks and then induce investors via social media platforms to buy these shares.
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